COVID-19 Archives - Audit In Action

The Role of Technology in the Modern Audit

[…]

EY’s thoughtful approach to unprecedented risks

This spring, the transition to a remote audit was very smooth for the Ernst & Young LLP (EY) team working with an e-commerce platform company, which, as a tech company, had already readily embraced the EY digital audit, including the electronic delivery of audit evidence. As a global company, it was accustomed to virtual communications […]

How PwC Increased Value Creation Amid the Pandemic

Contributed by: Wes Bricker, PwC Vice Chair and US & Mexico Assurance Leader Transformation is today’s work to secure tomorrow’s relevance. Change can be hard. Settling for the status quo is easy. But transforming how and where we deliver assurance requires courage, commitment, and effort. We can then do more, increase value for our stakeholders, […]

RSM: A Commitment Beyond the Checkbook

As companies take a broader view of their responsibility to society, the way they show that support is evolving as well. More than 90% of middle market companies surveyed said that they supported social, community or philanthropic causes over the past two years, and most often the support is expressed financially. Whether it’s helping community […]

Grant Thornton: A Dashboard Without Precedent for a Crisis Without Precedent

When the COVID-19 pandemic upended American businesses, it also triggered unplanned financial-reporting requirements. For example, a billion-dollar consumer-goods retailer needed to quickly assess the content of new disclosures, while also comparing and contrasting its proposed disclosures with similar companies in its industry. To help, Grant Thornton developed a COVID-19 dashboard that tracks pandemic-related company communications, […]

Grant Thornton: Never Miss a Chance to Hit Reset

COVID-19 pulled the rug out from under almost every company, and a manufacturer critical to the U.S. supply chain was no exception. Only days into the crisis, the company had to urgently finish preparing their audited financial statements, but its employees were sequestered at home and unable to easily pull the data its outside auditors […]

EY is Serving the Public Interest in COVID-19

Over the past two decades, the US public company auditing profession has engaged actively with policymakers and others with an interest in high-quality auditing. Through a series of important measures by all participants in the US financial reporting ecosystem, significant, demonstrable gains have been achieved in audit quality, investor confidence and the reliability of financial […]

EY is Bringing Audit Insights to a Disrupted Retail Sector

Facing a March 31 end of their fiscal year, some retail companies were still wrapping up their 2019 audit when the pandemic hit. Aided by innovative technology, EY audit teams transformed their mindset and game plan almost overnight, regrouping and adapting to the daily challenges of a virtual workplace and the revised outlook for the […]

EY’s resilient data-first approach

COVID-19 simultaneously disrupted the accounting cycle for companies and underscored the ways in which technology and data enhance the resiliency of the profession. At EY-US, audit teams across the firm were able to leverage technology to not only adapt to working virtually, but to embrace a data-first approach and sustain our focus on executing high […]

PwC’s Scaling Innovation

Do you immediately think of auditors as innovators? Sure, you expect the team that’s conducting a financial statement audit to have strong accounting acumen, professional skepticism and industry expertise. But today’s auditor is powerfully combining their financial knowledge with newly acquired digital skills to rethink how the audit is performed. This has proven especially important […]